Kuehne + Nagel saw pre-tax profit in its core UK logistics and forwarding business rise by 43 per cent to £35.3 million in 2014.
Turnover at Kuehne + Nagel Ltd was up to £1.16 billion for the year to 31st December 2014 from £1.12bn the year before.
The international freight forwarding business increased turnover from £772.3m in 2013 to £827m last year. It highlighted contract renewals with Rolls Royce and BA along with new business with Next, William Grant, Shoe Zone and Conair.
The contract logistics division saw turnover slip from £345.2m in 2013 to £338.5m last year. It won contract extensions with Virgin Media and Airbus Industries. K+N is also part of Team Leidos, the consortium which won a £13 billion contract with the Ministry of Defence.
In 2014, the company launched a new “Focus + Excellence” strategy with the aim of enhancing its claim to be the “most respected forwarding and logistics group”.
Kuehne + Nagel Drinks Logistics, which reports separately, increased turnover marginally to £199.1m. However, pre-tax profit was down from £7.5m in 2013 to £334,000 last year.
It said efficiency and cost control continued to be a key focus for the business. “also during the year, the company experienced a clear divide between growth in activity in the south of the country and decline in the north further putting press on the need to balance resource between the northern and southern depots”.
